NC H1209

Requires independent third-party audits of state retirement systems' investment programs annually, with audited financial statements provided to the General Assembly within six months of fiscal year end.

Mandates the State Treasurer prepare and publish annual reports on investment fees and performance for external investment managers, including management fees, incentive fees, rates of return, and investment multiples.

Makes specific investment information public records, including investment names, values, performance metrics, and fee details, while keeping portfolio positions and investor information confidential until five years after an investment vehicle terminates.

Authorizes the State Treasurer to create specialized investment positions and establish market-oriented compensation plans including performance-based bonuses for investment employees, exempt from standard state classification rules.

Requires the State Treasurer to adopt and regularly review investment policy statements for each investment program, describing objectives, permitted investments, risk management, and performance evaluation criteria.